The FTSE 100 index rose to a one-week high, ending the session 0.56% higher at 7,527.67 points on Wednesday, lifted by a rebound in basic resources and China-exposed stocks. "China-dependent luxury-goods and mining stocks helped the FTSE 100 to also perform amid talk of a new China stimulus package and as iron-ore prices are rising," IG Group analyst Axel Rudolph writes in a market comment. The London blue-chip index's top risers were Antofagasta, Endeavour Mining, Fresnillo, Anglo American and Burberry.



Alstom Confirms Targets After 3Q Orders, Sales Rose

Alstom reported a rise in third-quarter sales and orders and confirmed its outlook for fiscal 2024.


Abrdn Plans to Cut 500 Jobs, Reduce Costs

Abrdn said that it will cut around 500 jobs in a push to reduce annualized cost by at least 150 million ($190.3 million) by the end of 2025.


Fresnillo Misses Silver Output Target; Sees Roughly Stable Production in 2024

Fresnillo met its overall production target for 2023 despite a miss to silver output, and expects roughly stable production this year.


EasyJet Adjusted Pretax Loss Narrowed on Higher Passenger Numbers

EasyJet said that its adjusted pretax loss for the first quarter narrowed due to higher passenger numbers, and that its seasonal winter loss for the first half is expected to improve.


Hochschild Mining Meets Production Target; Backs Forecast

Hochschild Mining's 2023 production met the company's target range, despite its gold and silver output falling on year, while backing this year's forecast.


Home REIT to Sell 103 Homes for GBP6.6 Mln

Home REIT said it has agreed to sell 103 homes at a public auction for 6.6 million pounds ($8.4 million), with sales proceeds going toward reducing borrowings and providing working capital.


Wetherspoon Comparative Sales Rose; Year in Line With Views

J.D. Wetherspoon said like-for-like sales rose in the first half of its fiscal year and that it expects its outcome for the year to be in line with market expectations.


Quilter Reports Strong Performance on Increased Asset Management

Quilter said it delivered a strong performance for the fourth quarter, with an increase in assets under management reflecting supportive markets at the year-end.


Tullow Oil to Top 2023 Production Target; Sees Output Higher Next Year

Tullow Oil expects 2023 production to top previous guidance, and anticipates an increase in overall output this year.


Computacenter Expects Record Adjusted Pretax Profit

Computacenter expects to report another record year of adjusted pretax profit for 2023, reflecting the strength of its business model and geographic diversity, along with increased strategic investment.


Hargreaves Services Pretax Profit Falls; Lifts Dividend

Hargreaves Services said pretax profit and revenue for the first half of its fiscal year fell but hiked its interim dividend and said it remains confident of delivering a positive full-year result on the back of increased returns from its German joint venture.


X5 Retail Group Sales Rise on Expanded Market Presence

X5 Retail Group said that sales rose on both a quarterly and annual basis as it pursued store expansions.


Metro Bank Names Investor Jaime Gilinski Bacal to Its Board

Metro Bank Holdings' biggest shareholder, Colombian billionaire Jaime Gilinski Bacal, will join its board as a nonexecutive director.



Abrdn Shares Still Hold Value Despite Tough Markets

1201 GMT - Shares in Abrdn rise 3% to 178 pence after the asset manager said markets had stayed tough, but announced 500 job cuts as part of plans to save at least GBP150 million. The need for cost cuts is ever more apparent, with lackluster flows in the second half of 2023 and profit for the year "rescued" by interest income, Panmure Gordon says. "The cost-cutting is undoubtedly welcome, but not yet the end of the story," Panmure analysts write, reiterating their buy recommendation, but cutting their price target to 235 pence from 250 pence. "There remains value in the shares on any reasonable assumptions about the value of the quite disparate businesses--at least now there appears to be an attempt to preserve some of that value." (


Hochschild Mining Looks Set for Materially Higher Earnings

1150 GMT - Hochschild Mining looks set to book higher-than-expected earnings for 2023, and even higher in 2024, Peel Hunt analysts write in a research note. The precious-metals miner reported net debt of $252 million, which implies $260 million in Ebitda for 2023, well ahead of Peel Hunt's estimate of $237 million, the U.K. brokerage says. This, along with lower-than-expected overall cash costs in 2023, implies a strong year of profitability in 2024, Peel Hunt says. Also, the analysts expect the Mara Rosa operation in Brazil, which is running through final commissioning, to "drive a substantial improvement in Ebitda generation for the group, something yet to be priced into the shares." Shares are up 7.8% at 95.75 pence. (


Contact: London NewsPlus, Dow Jones Newswires


(END) Dow Jones Newswires

January 24, 2024 12:13 ET (17:13 GMT)

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